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08.05.2014 15:20

Gold: an overview of the market situation

Gold prices have stabilized today after yesterday's fall more than 1 percent . Impact on the dynamics of the word head of the European Central Bank Mario Draghi that the ECB may take action at the next meeting to solve the problem of inflation.

However, many analysts doubt that the ECB actually do something next time , as the Central Bank had previously lied to their expectations. However, these words were enough to cause fluctuations in the gold.

"Reading between the lines , it seems that even if Draghi itself ready to ease policy , it constrains the need to reach consensus on this issue ," said Marc Chandler , analyst at BBH. "Several of the creditor countries , led by Germany are worried that the rates are too low for a long time , leading to a drop in inflationary pressures ."

Market participants also continued to monitor the situation in Ukraine, where the lingering concerns over the conflict between government forces and pro-Russian separatists.

"If the conflict in Ukraine will calm down and the U.S. economy remains in good condition , it will be a good signal for stocks and bad for gold, as investors return to riskier markets where growth prospects better than gold," - said Peter Fertig , consultant Quantitative Commodity Research.

Support prices and have the data for China , which showed that China's trade surplus rose to $ 18.45 billion in April from a surplus of $ 7.7 billion in March, compared with forecasts of a surplus of $ 13.1 billion in Chinese exports rose 0 9 % year on year , higher than the expected decline of 1.7% , after falling in March by 6.6 %. Imports increased by 0.8 %, although the projected decline of 2.3% , after falling 11.3% in the previous month . Strong data helped ease fears about the health of the second largest economy in the world .

Meanwhile, we add that , despite yesterday's drop in prices , interest in buying of Chinese dealers on the Shanghai Gold Exchange was relatively weak.

To date, the cost of the June gold futures on COMEX rose to a high of $ 1289.10 .

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